Trendlyne Marketwatch
Trendlyne Marketwatch
12 Mar 2025
Market closes flat, Geojit Financial upgrades PNC Infratech to a 'Buy' rating
By Trendlyne Analysis

 

Nifty 50 closed at 22,470.50 (-27.4, -0.1%), BSE Sensex closed at 74,029.76 (-72.6, -0.1%) while the broader Nifty 500 closed at 20,264.35 (-38.2, -0.2%). Market breadth is sharply down. Of the 2,447 stocks traded today, 793 showed gains, and 1,628 showed losses.

Nifty 50 closed flat after paring losses in the afternoon session. The Indian volatility index, Nifty VIX, fell 2.7% and closed at 13.7 points. NTPC Green Energy closed higher after its joint venture with ONGC, ONGC-NTPC Green, received Competition Commission of India (CCI) approval to acquire renewable energy firm Ayana for Rs 19,500 crore.

Nifty Smallcap 100 and Nifty Midcap 100 closed lower. Nifty IT and S&P BSE Telecom Indices were among the top index losers today. According to Trendlyne’s sector dashboard, Software & Services emerged as the worst-performing sector of the day, with a fall of 2.4%.

European indices are trading mixed. US index futures are trading higher, indicating a positive start to the trading session. Asian indices closed mixed as US trade policy uncertainty grew after President Trump briefly raised tariffs on Canadian steel and aluminum to 50% before reversing to 25%. Brent crude futures are trading higher after rising 1% in the previous trading session.

  • NCC sees a Long buildup in its March 27 futures series, with open interest increasing by 13.3% and a put-call ratio of 0.3.

  • Telecom stocks like Indus Towers, Bharti Hexacom, ITI and Tejas Networks fall more than 1.8% in trade, causing the S&P BSE Telecom index to plunge more than 2%.

  • Life Insurance Corporation of India (LIC) is falling as its new business premiums decline 22% YoY in February. Additionally, the Centre is reportedly considering offloading a 2-3% stake in the company.

  • Jubilant Ingrevia is rising as it signs a power purchase agreement (PPA) with O2 Power to supply renewable energy to its SEZ Bharuch manufacturing facility in Gujarat. This increases the share of renewable sources to over 35% of the company's total energy needs across all manufacturing facilities.

  • Analysts expect retail inflation to drop to around 4% in February, led by lower food prices. Retail inflation stood at 4.3% in January, the lowest in five months. According to RBI, the Indian economy is regaining growth momentum, driven by increased consumption demand and overall investment, and is set to remain the fastest-growing major economy in FY26.

  • ICICI Securities maintains a 'Buy' rating on Akums Drugs with a target price of Rs 710 per share. This indicates a potential upside of 36%. The brokerage believes Akums' Rs 1,760 crore partnership with a global pharma firm will be a growth driver. The deal includes supplying oral liquid formulations worth EUR 100 million over CY27–32E (~4% of sales p.a.), marketed across Europe. It expects a strong recovery in business, driven by pricing stability in CDMO and lower exposure to loss-making API and trade generics by FY26.

  • Uflex plans a Rs 317 crore capex to establish two new recycling plants in Noida to boost the production of recycled PET (rPET) and recycled PE (rPE) materials. The plants will have a combined annual capacity to process 39,600 metric tonnes (MT) of plastic waste.

  • Geojit Financial upgrades PNC Infratech to a 'Buy' rating with a target price of Rs 305 per share. This indicates a potential upside of 20%. The brokerage believes the company's revenue will grow with the removal of the ban by the Ministry of Road Transport and Highways (MoRTH). It expects strong order inflow and improved execution for FY26.

  • Tamil Nadu raises the mineral tax on limestone by Rs 160 per tonne, increasing cement costs by Rs 16 per bag. This hike is expected to impact companies like Dalmia Bharat and Ramco Cement, which have around 20-50% of their clinker capacity in the state.

  • NTPC Green Energy rises as its 50:50 JV with ONGC, ONGC-NTPC Green, secures approval from the Competition Commission of India (CCI) to acquire renewable energy firm Ayana for Rs 19,500 crore.

  • ICICI Securities' board sets March 24 as the record date to delist the stock and determine eligible shareholders for the share swap. The National Company Law Appellate Tribunal (NCLAT) upholds the National Company Law Tribunal's (NCLT's) approval to delist, dismissing all six appeals filed by Quantum Mutual Fund and Manu Rishi Gupta.

  • Carysil rises sharply as it signs a supply agreement with Karran, USA, to provide its Quartz kitchen sinks to a major US home retail chain. It will produce at least 150,000 sinks annually, starting May 2025. Carysil plans to invest about $510,000 (Rs 4.2 crore) in moulds, machinery, and utilities to support production.

  • Mutual Funds' net inflows decline to Rs 29,241.8 crore in February, compared to Rs 39,669.6 crore in January, according to data released by the Association of Mutual Funds in India (AMFI). Meanwhile, monthly SIP inflows drop to a three-month low of Rs 25,999 crore in February, compared to Rs 26,400 crore last month.

  • Ola Electric cuts costs by Rs 90 crore per month by implementing a network transformation and opex reduction program. As a result, the company expects the auto segment EBITDA to break even in Q1 FY26, with full impact from April 2025.

  • Alkem Laboratories launches generic empagliflozin and its combinations in India under the brand name Empanorm. The drug is used to treat type-2 diabetes, chronic kidney disease, and heart failure, and has a market size of approximately Rs 640 crore.

  • SEPC rises sharply as it signs a framework agreement with ROSHN Group in Saudi Arabia for infrastructure work. It bids SAR 893 million (about Rs 2,200 crore) for projects in three zones of Jeddah North, Phase 1A. The agreement ensures SEPC gets work in at least one zone through call-off orders.

  • The Nifty IT index drops over 4% due to concerns over a potential US recession and US-Canada trade tensions. Recent US economic data contradicts earlier GDP growth expectations, raising worries about the global economy.

  • Bharti Airtel partners with SpaceX to bring Starlink satellite internet services to India. The rollout depends on SpaceX obtaining the required approvals to operate Starlink in the country.

  • CG Power bags a Rs 450 crore order from Kinet Railway Solutions to supply railway components to manufacture 10 Vande Bharat trainsets. The company also signs a 35-year service agreement as part of the long-term supply contract.

  • Kaynes Technology India is falling as its Managing Director, Ramesh Kunhikannan, receives a show-cause notice from the Securities and Exchange Board of India (SEBI). The notice alleges violations in maintaining the Structured Digital Database (SDD) related to financial results for the period ended March 31, 2023.

  • Reliance's Jio Platforms partners with Elon Musk's SpaceX to introduce Starlink's high-speed satellite internet in India. The collaboration will also include customer service support, installation, activation, and the availability of Starlink equipment in Jio's retail outlets.

  • PB Fintech's board of directors approves investing Rs 696 crore in its subsidiary, PB Healthcare Services, by subscribing to its equity shares or compulsory convertible preference shares.

  • Godrej Agrovet is rising as its board of directors approves a share purchase agreement to acquire an additional 48.1% stake in Creamline Dairy Products for a cash consideration of Rs 930 crore.

  • Rail Vikas Nigam is rising as it secures an order worth Rs 554.6 crore from the National Highway Authority of India (NHAI) to build a six-lane access-controlled road connecting Sabbavaram Bypass to Sheelanagar Junction on National Highway 516C in Andhra Pradesh.

  • Tata Consultancy Services' board of directors approves the acquisition of a 100% stake in Darshita Southern India Happy Homes for a total consideration of Rs 2,250 crore.

  • Nifty 50 was trading at 22,534.70 (36.8, 0.2%) , BSE Sensex was trading at 74,270.81 (168.5, 0.2%) while the broader Nifty 500 was trading at 20,351.60 (49.1, 0.2%)

  • Market breadth is highly positive. Of the 1,924 stocks traded today, 1,406 were on the uptick, and 464 were down.

Riding High:

Largecap and midcap gainers today include IndusInd Bank Ltd. (684.70, 4.4%), Jio Financial Services Ltd. (225.53, 3.7%) and Adani Green Energy Ltd. (853.45, 3.6%).

Downers:

Largecap and midcap losers today include Bharti Hexacom Ltd. (1,357.40, -6.4%), L&T Technology Services Ltd. (4,390.65, -5.4%) and Indus Towers Ltd. (324.65, -4.9%).

Volume Shockers

10 stocks in BSE 500 are trading on high volumes today.

Top high volume gainers on BSE included Balrampur Chini Mills Ltd. (486.95, 8.1%), KEC International Ltd. (714.60, 5.6%) and IndusInd Bank Ltd. (684.70, 4.4%).

Top high volume losers on BSE were Firstsource Solutions Ltd. (306.80, -7.4%), Indus Towers Ltd. (324.65, -4.9%) and The Ramco Cements Ltd. (820.10, -4.0%).

Gujarat State Petronet Ltd. (274.15, 0.0%) was trading at 12.5 times of weekly average. ICICI Securities Ltd. (829.10, -0.2%) and Kaynes Technology India Ltd. (4,330.20, 0.9%) were trading with volumes 6.7 and 5.5 times weekly average respectively on BSE at the time of posting this article.

BSE 500: highs, lows and moving averages

2 stocks took off, crossing 52 week highs, while 23 stocks tanked below their 52 week lows.

Stocks touching their year highs included - Kotak Mahindra Bank Ltd. (1,982.55, 2.5%) and Welspun Corp Ltd. (820.40, 0.5%).

Stocks making new 52 weeks lows included - Astral Ltd. (1,265.10, -1.7%) and Cyient Ltd. (1,211.80, -2.6%).

7 stocks climbed above their 200 day SMA including Godfrey Phillips India Ltd. (5,436.45, 4.0%) and HDFC Bank Ltd. (1,711.15, 1.5%). 9 stocks slipped below their 200 SMA including Firstsource Solutions Ltd. (306.80, -7.4%) and Wipro Ltd. (268.55, -3.3%).

 
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